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    8228 Oak St New Orleans, LA 70118

    For Sale
    $1,175,000

    New Orleans QSR & Office, High NOI

    Property size:
    3,540 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional New Orleans investment opportunity presents a fee-simple, two-building retail property at 8228 Oak St, totaling 3,540 net rentable square feet on a 4,315 sq ft lot. The property, built in 1960 and renovated in 2023, features a ground floor occupied by a nationally recognized Primo Hoagies franchise under a triple-net lease (NNN) with four years remaining. The upper floor currently houses a month-to-month therapy office/studio apartment, offering flexibility for owner-occupancy or additional lease income. The property boasts 100% occupancy, generating a strong net operating income (NOI) of $81,000, resulting in a 6.89% cap rate. The asking price is $1,175,000 ($331.92/sq ft). The property is zoned HU-MU and includes three parking spaces. This prime location on bustling Oak Street is surrounded by thriving businesses, including Zotz Cafe, Oak Street Brewery, Jacques-Imo's, Maple Leaf Bar, and Breads on Oak. This is a turnkey investment ideal for those seeking immediate cash flow and long-term appreciation in a desirable New Orleans neighborhood. The property is available for a 1031 exchange.

    Property Features for 8228 Oak St

    General Information

    Property type
    Restaurants
    Square Feet
    3,540 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1960/2023
    Buildings
    2
    Stories
    2
    Units
    2

    HighLights

    • $1,175,000 asking price for a 3,540 SF net‑leased retail property in New Orleans, LA.
    • Multi‑tenant property (2 units) with 100% occupancy and a 6.89% cap rate.
    • NNN lease structure with $81,000 annual NOI.
    • Features two buildings on a 4,315 SF lot with 3 parking spaces.
    • Property includes a ground floor QSR/Fast Food tenant (Primo Hoagies) and an upstairs office/studio apartment, renovated in 2023.
    • Located on Oak Street in New Orleans, near popular restaurants and businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    PrimoHoagies Caterer

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Orleans
    County
    Orleans Parish
    State
    Louisiana
    Longitude
    -90.131126034761
    Latitude
    29.948471823909

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    FAQs

    What type of property is this?
    Restaurant - New Orleans QSR & Office, High NOI
    Where is this restaurant located?
    The property is located at 8228 Oak St New Orleans, LA.
    What is the asking price?
    The asking price for this property is $1,175,000.
    What are key features of this property?
    This property features: $1,175,000 asking price for a 3,540 SF net-leased retail property in New Orleans, LA.; Multi-tenant property (2 units) with 100% occupancy and a 6.89% cap rate.; NNN lease structure with $81,000 annual NOI.
    Request Owner's contact information
    8228 Oak St New Orleans, LA 70118
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8228 Oak St New Orleans, LA 70118
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